Reference no: EM131273986

Question 1
A value delivery system is based on:

A. outsourcing.
B. cost minimization.
C. a high degree of cooperation among all channel members.
D. one channel member conducting all activities.

Question 2
A manufacturer seeking to maximize its sales should utilize __________ distribution.

A. dual
B. intensive
C. selective
D. exclusive

Question 3
The Robinson-Patman Act:

A. reduced the bargaining power of large retail chains.
B. removed the fair trade laws in all states.
C. limited mergers between large firms.
D. reduced monopolies and restraints of trade.

Question 4
Which service attribute limits expansion possibilities for a service provider?

A. Industrialization of services
B. Intangibility
C. Perishability
D. Inseparability of the service from its provider

Question 5

Suggestion selling, point-of-purchase displays, and attractive store layouts are used by retailers to:
A. reduce selling costs.
B. increase customer service.
C. increase impulse sales.
D. reduce channel conflict.

Question 6
The distinct competency of a retailer relative to its competitors is referred to as:

A. economies of scale.
B. its cost advantage.
C. a focused strategy.
D. its competitive advantage

Question 7
The retail ownership form that has the greatest capacity for raising funds through the sale of stock is a:
A. sole proprietorship.
B. corporation.
C. partnership.
D. franchise.

Question 8

A retailer can determine how consumers perceive the company relative to its retail category and its competitors through:
A. positioning.
B. situation analysis.
C. target market assessment.
D. control analysis.

Question 9
In exclusive distribution, suppliers:

A. enter into agreements with one or a few retailers that designate the latter as the only companies in specified geographic areas to carry certain brands and/or product lines.
B. sell to as many retailers as possible.
C. sell to a moderate number of retailers.
D. utilize multiple channels of distribution to reduce channel conflict.

Question 10
The steps in a retail strategy are:

A. interdependent of each other.
B. independent of each other.
C. organized by specific and then general factors.
D. organized by short- and then long-term factors.

Question 11
A(n) __________ retail strategy encompasses the extra elements in a value chain that differentiate one retailer from another.
A. potential
B. augmented
C. expected
D. realized

Question 12
Physical products are NOT involved in which type of service?

A. Repair services
B. Nongoods services
C. Rented-goods services
D. Owned-goods services

Question 13
The consumer group that a retailer tries to satisfy is called its:

A. mass market.
B. store positioning market.
C. target market.
D. market segment.

Question 14
The sorting process refers to:

A. physical distribution assortment by perishability.
B. a retailer's pricing goods by quality and size.
C. government grading standards for produce.
D. a retailer's collecting an assortment of goods and services from many vendors.

Question 15
Accounting and legal services are examples of __________ services.

A. pro forma
B. rented-goods
C. nongoods
D. owned-goods

Question 16
A college bookstore that purchases goods from over 200 vendors demonstrates:

A. economies of scale.
B. a channel of distribution.
C. the sorting process.
D. vertical integration.

Question 17
Channel relations are generally smoothest in which form of distribution?

A. Selective distribution
B. Intensive distribution
C. Exclusive distribution
D. Dual distribution

Question 18
From a consumer's perspective, value is based on:

A. the perception of benefits received versus price paid.
B. who performs each of the elements in a value chain.
C. who performs the visible elements in a value chain.
D. only the price paid.

Question 19
A systematic procedure for analyzing the performance of a retailer is:

A. tactical performance evaluation.
B. a retail audit.
C. feedback.
D. strategy evaluation.

Question 20

Consumers lease physical products for a specified period of time with __________ services.
A. intangible
B. owned-goods
C. nongoods
D. rented-goods